Oil Output Cuts Extended by OPEC+ Members: What This Means for the Energy Sector in Q2
Houston, Texas – OPEC+ members have unanimously agreed to extend oil output cuts until the second quarter, a move aimed at stabilizing oil prices amidst the global economic uncertainty caused by the ongoing pandemic. This decision comes as a relief to oil producers who have been grappling with a sharp decline in demand as travel restrictions and lockdowns continue to impact the global economy. The agreement, led by Saudi Arabia, Russia, and several other OPEC+ …